Minnesota Statutes 581.05 – Purchase by Mortgagee
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The mortgagee, or any one claiming under the mortgagee, may fairly and in good faith bid off the premises at such sale; and in such case the statement of such fact in the report of sale shall have the same effect as a receipt for money paid upon a sale for cash.
Terms Used In Minnesota Statutes 581.05
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.